Though planned layoffs fell seven percent in July from June, employers still announced over one hundred thousand job cuts last month. The number is up 48 percent from July 2004. So far in 2005, a total of 641,245 job cuts have been announced, up 18 percent from the same span in 2004. The automotive industry tops all industries in layoffs with 72,598 expected job cuts through July.
See "Job cuts drop but still top 100,000", CNN.com, CNN, August 3, 2005